Saturday, October 20, 2007

"Everything you do affects your neighbor and everything your neighbor does affects you."

At a recent conference in CT, Speakers talked of regionalism and the benefits of rail.

"CHESTER - Connecticut cities and towns need to work together to focus on the future of the state instead of warring against each other, according to experts speaking at the 21st annual Rockfall Symposium Friday morning. The symposium included four experts who spoke to an audience in excess of 100 people from Middlesex County. Hosted by the Rockfall Foundation of Middletown."

The second speaker was the main proponent of rail: "W. David LeVasseur, undersecretary of intergovernmental policy at the Office of Policy and Management for the state of Connecticut. LeVasseur's staff is responsible for the preparation and submission of the Conservation and Development Policies Plan for Connecticut for 2005 to 2010."

"A large part of LeVasseur's presentation covered the potential growth involved in restoring the commuter train from New Haven to Springfield, Mass., and he says he is excited about the work his agency is doing with regional governments."The governors of New York, Rhode Island and Massachusetts are working to look at how to enhance commuter and freight mobility throughout the region. If Rhode Island does their part and we do our part, we would be able to take a commuter rail as far as Pennsylvania ... This would be such an economic advantage for this state.' [AND FOR THE REGION!!--pvacr]

LeVasseur cited lack of a bridge over the Hudson River for large trucks as creating an excessive amount of traffic on Connecticut roads, and made several suggestions for improving the infrastructure of the state based on an executive order issued by Governor M. Jodi Rell. The order creates a basis to pull communities together and pushes a statewide effort to conserve and develop areas around the region."The goal is to coordinate efforts among state agencies," LeVasseur said. "We need to get these things in a room and put peoples' heads together.""

Other speakers included

* Myron Orfield. Apparently, "the most influential social demographer in America's burgeoning regional movement." An expert in geographic information systems (GIS) and the president and founder of Ameregis, a research and GIS firm based in Minnesota, he has done work on local, state and federal levels to gauge and report on growth and changes in cities and towns across the country."

Orfield had the quote of the day: "Everything you do affects your neighbor and everything your neighbor does affects you."

* Maureen Hart, "introduced as the president of sustainable measures and an internationally recognized expert on indicators of sustainable development. Hart is the author of the book "Guide to Sustainable Community Indicators," a frequently referenced book by communities and organizations looking to measure long-term progress."

Hart: "'Historically, we've measured things on a short scale ... we need to begin by looking at our natural resources, then go from there.' Hart illustrated an intricate connection between natural resources to government, to communities, and showed the balance needed to sustain each of these levels of development."

Further, "'Getting people involved is important ... start a dialogue and get people talking,' she said."

* Christine Nelson, AICP. town planner for Old Saybrook, CT. "Nelson, born in Meriden and raised in the area of Middlesex County, offered suggestions for planning for a better future, including some strategies the town of Old Saybrook has adopted."

Wednesday, October 3, 2007

Good bond rating for CT portion of NHHS line

Good news about the financial stability of the CT bonds for the NHHS line (emphasis mine):

"NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns an 'AA-' rating to Connecticut's (the state) $250 million special tax obligation bonds (transportation infrastructure purposes), 2007 series A. Also, Fitch affirms the 'AA-' on $2.1 billion outstanding parity senior lien bonds. The bonds will sell on or about Oct. 9 via negotiation with a syndicate led by Banc of America Securities LLC. The bonds mature Aug. 1, 2008-2027, with call provisions yet to be determined.

[...]

At present the state has $2.2 billion in senior lien bonds, and $590 million in second lien bonds (rated 'AAA/F1+' by Fitch based on insurance and credit enhancement) outstanding, with $2.3 billion in authorized but unissued debt prior to this issue. Authorizations have grown substantially in recent years, with the legislature adjusting pledged revenues to support new bonding. In fiscal 2005, $1.3 billion was authorized for expanded transportation capital needs, notably for new rail cars on the Metro North New Haven line; the plan was supported by a $1 per ticket surcharge on rail users. In fiscal 2006, the legislature authorized an additional $1 billion, including for commuter rail between New Haven and Springfield, Mass. The legislature shifted additional oil companies tax collections to the special transportation fund to cover the expanded authorization."

It seems that bond rating companies see the plan as a good deal....now, when will MA commit to getting on board?